IR-2020-226, October 1, 2020 WASHINGTON — With the October 15 filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers to consult an independent tax advisor if they participated in […]
IRS provides final regulations on income tax withholding on certain periodic retirement and annuity payments
IR-2020-223, September 28, 2020 WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations PDF updating the federal income tax withholding rules for certain periodic retirement […]
IRS highlights employer credits for businesses during Small Business Week
IR-2020-221, September 24, 2020 WASHINGTON — During Small Business Week, the Internal Revenue Service reminds business owners and self-employed individuals of the employer credits available to them during COVID-19. These credits […]
IRS: Drought-stricken farmers, ranchers have more time to replace livestock
IR-2020-219, September 22, 2020 WASHINGTON — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax […]
IRS highlights higher penalties for some tax returns filed after Sept. 14
IR-2020-207, September 10, 2020 WASHINGTON — The Internal Revenue Service today urged individuals who owe taxes but have not yet filed for 2019 to act now to avoid larger penalties […]
IRS launches BBA centralized partnership audit webpage
IR-2020-199, September 1, 2020 WASHINGTON- The IRS announces the launch of the Bi-Partisan Budget Act (BBA) Centralized Partnership Audit Regime webpage. The Centralized Partnership Audit Regime replaces the Tax Equity and […]
IRS accepting applicants for the Compliance Assurance Process for 2021
IR-2020-193, Aug. 27, 2020 WASHINGTON — The Internal Revenue Service announced today the opening of the application period for the 2021 Compliance Assurance Process program. The application period runs Sept. […]
IRS provides tax relief for victims of California wildfires; Oct. 15 deadline, other dates extended to Dec. 15
IR-2020-191, August 24, 2020 WASHINGTON — Victims of the California wildfires that began August 14 now have until December 15, 2020 to file various individual and business tax returns and […]
Working Virtually: make a plan for protecting data and reporting theft; Part 5 of Security Summit tips for tax professionals
IR-2020-184, August 18, 2020 WASHINGTON — The Internal Revenue Service and Security Summit partners today reminded tax professionals that federal law requires them to have a written information security plan. Amid continuing […]
IRS urges employers to choose carefully when selecting a payroll service provider
Using a reputable firm or group can protect employers from fraud; options include PSPs, RAs and CPEOs IR-2020-186, August 19, 2020 WASHINGTON — The IRS reminded employers today to carefully choose […]